Primo Water (NASDAQ:PRMW) had its price objective hoisted by analysts at BMO Capital Markets from $15.00 to $16.00 in a research note issued on Thursday. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price target points to a potential upside of 0.88% from the company’s current price.
PRMW has been the subject of a number of other research reports. ValuEngine upgraded shares of Primo Water from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. BidaskClub lowered shares of Primo Water from a “hold” rating to a “sell” rating in a research note on Tuesday, March 13th. Barrington Research restated a “buy” rating and set a $20.00 price target on shares of Primo Water in a research note on Friday, April 6th. B. Riley set a $18.00 price target on shares of Primo Water and gave the company a “buy” rating in a research note on Monday, March 5th. Finally, William Blair began coverage on shares of Primo Water in a research note on Thursday. They set an “outperform” rating for the company. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $17.50.
Get Primo Water alerts:Shares of PRMW stock opened at $15.86 on Thursday. The firm has a market cap of $503.45 million, a price-to-earnings ratio of 322.60, a price-to-earnings-growth ratio of 4.43 and a beta of -0.16. The company has a debt-to-equity ratio of 4.13, a current ratio of 1.05 and a quick ratio of 0.90. Primo Water has a 12 month low of $10.47 and a 12 month high of $16.44.
Primo Water (NASDAQ:PRMW) last announced its quarterly earnings results on Tuesday, May 8th. The company reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.07. The business had revenue of $73.70 million during the quarter, compared to analyst estimates of $67.00 million. Primo Water had a net margin of 2.25% and a return on equity of 2.24%. Primo Water’s quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.05) EPS. analysts forecast that Primo Water will post 0.3 EPS for the current year.
In other Primo Water news, CFO David J. Mills sold 5,934 shares of Primo Water stock in a transaction on Monday, May 7th. The shares were sold at an average price of $13.50, for a total transaction of $80,109.00. Following the transaction, the chief financial officer now directly owns 79,624 shares of the company’s stock, valued at approximately $1,074,924. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David J. Mills sold 2,336 shares of Primo Water stock in a transaction on Friday, May 18th. The stock was sold at an average price of $15.00, for a total transaction of $35,040.00. Following the transaction, the chief financial officer now directly owns 64,682 shares in the company, valued at $970,230. The disclosure for this sale can be found here. Insiders have sold a total of 27,618 shares of company stock worth $387,780 over the last ninety days. Insiders own 13.50% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of PRMW. Caption Management LLC purchased a new position in Primo Water during the 4th quarter worth $101,000. MetLife Investment Advisors LLC purchased a new position in Primo Water during the 4th quarter worth $138,000. Driehaus Capital Management LLC purchased a new position in Primo Water during the 4th quarter worth $166,000. Quantitative Systematic Strategies LLC purchased a new position in Primo Water during the 1st quarter worth $173,000. Finally, A.R.T. Advisors LLC purchased a new position in Primo Water during the 1st quarter worth $210,000. 70.27% of the stock is currently owned by hedge funds and other institutional investors.
About Primo Water
Primo Water Corporation, together with its subsidiaries, provides multi-gallon purified bottled water, self-service refill water, and water dispensers in the United States and Canada. It operates in three segments: Refill, Exchange, and Dispensers. The Refill segment sells filtered drinking water dispensed directly to consumers through self-service machines.
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